WSJ Selects Abbott’s Absorb Stent as Innovation Award Winner

The Wall Street Journal has recognized the vascular division of Abbott Inc. for its Absorb stent. The newspaper named the device the winner of the Medical Devices category in the 2011 Wall Street Journal Technology Innovation Awards. Absorb is a bioresorbable vascular scaffold (BVS) that is implanted to restore blood flow by opening a blocked artery and providing support to the vessel until the device dissolves. Once in place, the stent dissolves in approximately two years, leaving patients with a treated vessel free of a permanent metallic implant.

The device is made of polylactide, a biocompatible material that is commonly used in medical implants such as dissolvable sutures. Because a permanent metallic implant is not left behind, naturally occurring vessel functions may be restored.

In its 11th year, The Wall Street Journal Technology Innovation Awards assesses applications on three criteria: whether the innovation breaks with conventional ideas or processes in its field; whether it goes beyond marginal improvements of an existing technology; and whether it will have a wide impact in its field or on future technology. This year, the Journal received 605 entries from companies, organizations and individuals in 31 countries. The judges chose 35 winners and runners up in 16 categories. The independent panel of judges included individuals from venture-capital firms, universities and other organizations and companies.

“Absorb represents the best in scientific innovation, as it has the potential to change the way physicians practice medicine and improve outcomes for their patients,” said Robert B. Hance, senior vice president, vascular, Abbott. “We are pleased that this innovation, which has been developed in the U.S. over nearly a decade, has the prospect of advancing patient care around the globe. Abbott is honored to receive this prestigious award.”

In January, Absorb received CE Mark in Europe for the treatment of coronary artery disease. The device has not yet been approved in the United States.It currently is being evaluated in more than 40 clinical centers in 20 countries around the world.

Last year, Abbott was a runner up in the Medical Devices category for its investigational MitraClip system, a catheter-based device for the treatment of mitral regurgitation—a common heart disorder where the mitral valve does not close properly when the heart pumps out blood.

Abbott Vascular competes with Boston Scientific Corp. and St. Jude Medical Inc. in the stent market.